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Valdymo koordinavimo centras Governance Coordination Centre

State Owned Enterprises

UAB ,,Genetiniai ištekliai“ carries out its continuous activities t. y. breeding of promising beef and dairy cattle; seed production of cereals, fiber and oilseeds, experimental, educational and experimental economic activities, protects and breeds gene-stocked Lithuanian black-headed sheep by the closed population method. Created and expands the selection nucleus of Lithuanian local coarse sheep, performs controlled fattening of lambs.

KEY FINANCIAL PERFORMANCE INDICATORS FOR THE PERIOD 2022-2024

  • Average annual profitability:
    • 2022–2024 ≥ 2,8 percent.
  • Annual ratio of total liabilities to equity:
    • 2022–2024 limit 0,2–0,3 times

TARGETED SPECIFIC INDICATORS FOR THE PERIOD 2023-2025

  • Return on equity ROE,%:
    • 2023 – 3,3
    • 2024 – 3,57
    • 2025 – 4,13
  • Level of general and administrative costs, thousand euros:
    • 2023 – 225
    • 2024 – 230
    • 2025 – 235
  • Sales revenue, million euros:
    • 2023 – 2,4
    • 2024 – 2,5
    • 2025 – 2,6
  • Retention of regular customers, %:
    • 2023 – 50
    • 2024 – 55
    • 2025 – 60
  • Employee participation in training, hours:
    • 2023 – 20
    • 2024 – 24
    • 2025 – 28

          2022/23 GOOD CORPORATE GOVERNANCE INDEX

            

          2021/22 GOOD CORPORATE GOVERNANCE INDEX       

Sk – Transparency dimension
KO – Board dimension
SP – Strategic planning and target achievement dimension
GI – Good governance ratio

Financial results

P/L Statment

2019 2020 2021 2022
Revenue 1,750 1,890 2,471 2,750
Cost of goods sold 1,532 1,633 2,209 2,454
Gross profit (loss) 218 256 262 296
Gross profit margin 12% 14% 11% 11%
Operating expenses 206 199 196 215
Operating profit (loss) 12 58 66 82
Operating profit margin 1% 3% 3% 3%
EBITDA 216 197 213 217
EBITDA margin 12% 10% 9% 8%
Net profit (loss) 4 44 86 98
Net profit margin 0% 2% 3% 4%
2020-06 2021-06 2022-06 2023-06
Revenue 505 794 976 925
Cost of goods sold 473 685 797 1,030
Gross profit (loss) 33 109 179 -105
Gross profit margin 6% 14% 18% -11%
Operating expenses 101 91 103 122
Operating profit (loss) -69 18 76 -228
Operating profit margin -14% 2% 8% -25%
EBITDA -6 93 180 129
EBITDA margin -1% 12% 18% 14%
Net profit (loss) -71 21 90 46
Net profit margin -14% 3% 9% 5%

* Left axis

** Right axis

*** All data in Profit and Loss Statement table and corresponding chart is in EUR thousand, unless otherwise noted

Balance sheet

2019 2020 2021 2022
Non-current assets 2,315 2,550 2,180 2,059
Intangible assets 2 2 1 0
Tangible assets 1,865 1,945 1,758 1,636
Financial assets 176 313 179 179
Other non-current assets 273 290 243 245
Current assets 1,143 1,032 1,183 1,398
Inventories and prepaid expenses 686 795 665 882
Accounts receivable in one year 390 127 349 359
Other current assets
Cash and cash equivalents 67 110 169 158
Total assets 3,468 3,600 3,381 3,474
Equity 2,554 2,598 2,648 2,677
Grants and subsidies 530 458 390 339
Liabilities 384 544 342 459
Financial liabilities 79 176 139 100
Long-term liabilities 5 139 100 60
Short-term liabilities 379 405 243 399
Equity and liabilities 3,468 3,600 3,381 3,474
2020-06 2021-06 2022-06 2023-06
Non-current assets 2,517 2,503 2,132 2,232
Intangible assets 2 1 0
Tangible assets 2,041 1,854 1,706 1,555
Financial assets 176 316 179 428
Other non-current assets 299 332 248 250
Current assets 1,444 1,286 1,718 1,403
Inventories and prepaid expenses 1,031 1,030 834 961
Accounts receivable in one year 326 127 608 285
Other current assets 0 0
Cash and cash equivalents 87 130 276 157
Total assets 3,972 3,809 3,869 3,654
Equity 2,483 2,579 2,669 2,635
Grants and subsidies 493 423 366 316
Liabilities 995 807 835 703
Financial liabilities 302 158 119 80
Long-term liabilities 185 139 100 59
Short-term liabilities 811 668 735 643
Equity and liabilities 3,972 3,809 3,869 3,654

* All data in Balance Sheet table and corresponding chart is in EUR thousand, unless otherwise noted

Financial ratios

2019 2020 2021 2022
Capital return ratios
Return on assets (ROA) 0% 1% 2% 3%
Return on equity (ROE) 0% 2% 3% 4%
Return on capital employed (ROCE) 0% 2% 2% 3%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.02 0.05 0.04 0.03
Current Ratio 3.02 2.54 4.88 3.50
Quick ratio 1.21 0.58 2.13 1.29
Turnover ratios
Asset turnover 0.50 0.52 0.73 0.79
Fixed asset turnover 0.76 0.74 1.13 1.34
Equity turnover 0.69 0.73 0.93 1.03
Profitability ratios
EBITDA margin 12% 10% 9% 8%
Operating profit margin 1% 3% 3% 3%
Net profit margin 0% 2% 3% 4%
Other ratios
Dividends to the State 0.00 35.40 69.30 87.20
Dividends paid / net profit 0.00 0.80 0.81 0.89

* Left axis

** Right axis

*** Dividends to the state in Financial Ratios table is in EUR thousand

2020-06 2021-06 2022-06 2023-06
Capital return ratios
Return on assets (ROA) 0% 3% 4% 1%
Return on equity (ROE) 0% 5% 6% 2%
Return on capital employed (ROCE) -3% 1% 3% -8%
Capital structure and liquidity ratios
Debt / asset ratio (D/A) 0.08 0.04 0.03 0.02
Current Ratio 1.78 1.92 2.34 2.18
Quick ratio 0.51 0.38 1.20 0.69
Turnover ratios
Asset turnover 0.13 0.21 0.25 0.25
Fixed asset turnover 0.20 0.32 0.46 0.41
Equity turnover 0.20 0.31 0.37 0.35
Profitability ratios
EBITDA margin -1% 12% 18% 14%
Operating profit margin -14% 2% 8% -25%
Net profit margin -14% 3% 9% 5%
Other ratios
Dividends to the State
Dividends paid / net profit

Financial statments

2022 m. 6 mėn. tarpinės ataskaitos 2022 m. metinės ataskaitos
2021 m. 6 mėn. tarpinės ataskaitos 2021 m. metinės ataskaitos
2020 m. 6 mėn. tarpinės ataskaitos 2020 m. metinės ataskaitos
2019 m. metinės ataskaitos 2019 m. 6 mėn. tarpinės ataskaitos

Expectations of the state

Letter of Expectations

About the company

  • Official nameUAB "Genetiniai ištekliai"
  • Legal formPrivate limited liability company (UAB)
  • Company code304979983
  • SectorOther
  • Line of businessHorticulture and animal husbandry
  • Institution representing the StateMinistry of Agriculture
  • Share belonging to the State100%
http://genetiniaiistekliai.lt
Return to the State

87 EUR thousand

ROE

3.7%

Number of employees

60

Financial data provided as at end-December 2022

UAB „Šeduvos avininkystė“ and UAB „Upytės eksperimentinis ūkis“ were reoganized and merged into new company - UAB „Genetiniai ištekliai“, which was registered in the Register of Legal Entities on 2 January 2019.

Management

  • Audrius ZalatorisChief Executive Officer

Information as of: 2023/11/03

Board of Directors

CHAIRMAN OF THE BOARD OF DIRECTORS

  • Vygantas SliesoraitisUAB Visi namai, UAB Vegta, VšĮ Panovis; Independent member; AB „Kelių priežiūra“; UAB „Pieno tyrimai“; UAB AL holdingas

MEMBERS OF THE BOARD OF DIRECTORS

  • Kęstutis ButkusIndependent member; UAB "Ecoservice"; UAB "ITALIANA LT"
  • Regina MininienėMinistry of Agriculture
  • Virginija ŽoštautienėMinistry of Agriculture

Information as of: 2023/11/03